Global

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  • Industry: Mining
  • Type: Business and industry issue
  • Date: 1/1/2012

Uranium Q4 2011 – January 2012 

Uranium spot prices have been volatile in the last few years. There has been a dramatic increase in the prices from 2003, when it was under US$10/lb to over US$125/lb in 2007 when it reached its peak, and then again fell to US$50/lb by November 2008. After a sluggish 2009 and a slow 2010, the start of the year 2011 was bullish on uranium because of the growth expectations in the nuclear power sector. The prices reached US$73/lb in January 2011, from the 2010 average price of US$47/lb, in response to large purchases by China ahead of an expansion of its nuclear generating capacity. But in the days following March 2011 earthquake and tsunami in Japan and the Fukushima nuclear accident, the spot prices declined to around US$50/lb which, except for a few exceptions, stayed at the same level throughout the year end to close at US$52/lb.
uranium january 2012
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